Customs promises wise enforcement ‘teeth’ use
Bahamas Customs yesterday sought to reassure the shipping industry that it will use its newly-acquired “teeth” wisely, and not levy “unreasonable fines” that could drive a further increase in freight rates.
Gov’t over-regulation ‘choking the economy’
The Government is “choking the economy” with an ever-growing regulatory burden, a former Chamber chairman warned yesterday, arguing that it should instead focus on enforcing existing laws.
Businessman ‘happy’ with 50% investment rate of return slash
A well-known businessman yesterday said he is “happy” to get half the rate of return on investment he once enjoyed, adding: “We’re in a full-blown depression.”
‘Little faith’ on $150m GFS deficit projection
The Opposition’s deputy leader has “very little faith” the Government will hit its projected $150 million deficit target for 2015-2016, following the $184 million ‘revision’ to the prior fiscal year.
IMF: Bahamas growth potential down 50% since millennium turn
The International Monetary Fund (IMF) says the Bahamas’ economic growth potential has fallen by 50 per cent since the turn of the century, with no sign of any immediate rebound.
Minister in compliance, business ease ‘balance’
A Cabinet minister is discussing with the Ministry of Finance how to “create a better balance” between its tax compliance crackdown and improving the ‘ease of doing business’.
Ex-Chamber chairman: ‘Writing’s on the wall’
The Government has “acted on less than 10 per cent” of private sector recommendations submitted to it two years ago, an ex-Chamber chair adding: “The writing’s on the wall.”
‘Limited confidence’ in Budgetary figures
The Bahamas can only have “limited confidence” in the accuracy of the Government’s Budget numbers, the Chamber chairman is warning, because they remain ‘provisional’ for so long.
Bahamas ‘can’t depend on location any longer’
The Bahamas must work immediately to improve the cost and efficiency of its tourism product, the Opposition’s finance spokesman warning: “No longer can we depend on our location as a draw”.
Gov’t urged: ‘Set tone’ on renewable energy
The Government has been urged to “set the tone” for the renewable energy sector, with one provider warning the Bahamas is “way behind the eight ball” with less than 1 per cent penetration.
Blackbeard’s Cay makes $16m Govt damages bid
The Blackbeard’s Cay developer is seeking nearly $16 million in ‘special damages’ from the Government because it “recklessly breached” its duty to defend the project from environmental activists.
Foreign receiver hits at Bahamas ‘legal hurdles’
A Canadian receiver has hit out at the Bahamian “legal hurdles” complicating his efforts to recover assets from two Paradise Island residents, who have been accused of perpetrating a $22.6 million fraud.
Healthcare reform possible in 6 months
A well-known physician yesterday warned that political expediency still threatens to undermine efforts to create a properly-functioning Bahamian universal healthcare (UHC) scheme, which could be devised within six months.
Chamber chief seeks ‘programmed’ Budget
The Chamber’s chairman has renewed calls for the Government to switch to programme-based budgeting, arguing that this will enable Bahamians to assess whether it is “cutting into the root causes” of its multi-million dollar deficit.
NHI governance reforms to ‘speak truth to power’
The Government’s main National Health Insurance (NHI) adviser said yesterday that the newly-appointed governance structure would hopefully “speak truth to power”, and aid the proposed implementation of its primary care phase in six months’ time.
